Chipmaker Sckipio Agrees to Transfer Employees to Sequans Communications
Sckipio develops chips for modems and broadband applications and has recently run into trouble, as major clients halted their orders
Meir Orbach | 13:46, 08.01.20
Israel-based chip company Sckipio Corp. has agreed to transfer 25 of its local software developers to New York-listed Sequans Communications SA, Sckipio CEO David Baum said in a Wednesday interview with Calcalist. Baum did not disclose the financial terms of the deal.
A handful of the company’s employees will remain with the Sckipio alongside its management team to continue developing its technology, Baum said.
Founded in 2012 and based in Tel Aviv suburb Ramat Gan, Sckipio develops chips for modems and broadband applications. The company has raised $27 million to date from investors including Intel Capital, the venture investment arm of Intel, and Japanese multinational semiconductor company MegaChips Corp.
Several of Sckipio’s large clients, including American telcoAT&T Inc., recently halted their orders from Sckipio, making it very difficult for it to continue its operations, Baum said.
Baum also co-founded chip company CopperGate Communications, acquired by Sigma Designs Inc. in 2009 for $190 million.
